Agnico Eagle Mines (AEM) NewsBite - AEM Rises on Upgrade

Posted on Friday, September 05, 2008 11:21 AM
Agnico Eagle Mines (AEM) was upgraded today by analysts at Credit Suisse and the stock is now at $51.55, up $0.49 (0.96%) on volume of 1,869,823 shares traded. The brokerage firm upgraded the stock from "Neutral" to "Outperform." Over the last 52 weeks the stock has ranged from a low of $44.01 in September to a high of $83.45 in March. Agnico Eagle Mines stock has been showing support around $47.97 and resistance in the $55.49 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for AEM. If you are looking for a hedged play on AEM the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 45 range. [ABR-Seven Summits Strategic Investments NewsBite]
Stocks To Watch Today: FCX, HAL, ISRG, MRVL, HMC, CEG, GENZ, LMT, WYNN, BNI (Click Symbol For Latest News)

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